Building Reliable Trading Systems: Tradable Strategies That Perform As They Backtest and Meet Your Risk-Reward Goals

Overview

Traders have long been drawn to the idea of developing a reliable trading system. But before you embark on this journey, you must first have a realistic understanding of what a "tradable strategy" must encompass.

For more than twenty-five years, author Keith Fitschen—whose most popular system, Aberration, has been named "One of the Top Ten Trading Systems of All Time" by Futures Truth—has continuously developed and actively traded his proven ...

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Overview

Traders have long been drawn to the idea of developing a reliable trading system. But before you embark on this journey, you must first have a realistic understanding of what a "tradable strategy" must encompass.

For more than twenty-five years, author Keith Fitschen—whose most popular system, Aberration, has been named "One of the Top Ten Trading Systems of All Time" by Futures Truth—has continuously developed and actively traded his proven systems. Now, he shares his extensive experience in this field with you.

Building Reliable Trading Systems skillfully describes the critical steps a trader needs to follow to excel in today's dynamic markets. Along the way, Fitschen touches on exactly what it takes to build, test, and implement a profitable technical trading system. You'll become familiar with everything from the dangers of curve-fitting to the importance of knowing your personal risk tolerance. You'll also gain valuable insights on entries, exits, and trading filters; money management techniques for both large and small stock and commodity accounts; as well as advice on avoiding the influence of some misguided trading lore.

Written with the serious trader in mind, Building Reliable Trading Systems is an accessible guide to creating a system that will generate realistic returns over time.

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Product Details

  • ISBN-13: 9781118528747
  • Publisher: Wiley
  • Publication date: 4/29/2013
  • Series: Wiley Trading Series , #620
  • Edition number: 1
  • Pages: 304
  • Sales rank: 716,770
  • Product dimensions: 9.00 (w) x 6.20 (h) x 1.30 (d)

Meet the Author

KEITH FITSCHEN has been developing technical trading systems for the futures markets for over twenty-five years and has actively traded his systems during that time. In 1986, he developed Aberration, one of the most successful mechanical systems ever. It was commercially released in 1993 and four times has been named "One of the Top Ten Trading Systems of All Time" by Futures Truth. Fitschen recently developed a stock-trading system that profits in both bull and bear markets. He has spoken at numerous technical conferences and workshops, and hosts seminars across the country each year. Fitschen is the President of TradeSystem, Inc., and provides trading system information on his website: www.keithstrading.com.

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Table of Contents

Preface vii

Chapter 1 What Is a “Tradeable Strategy?” 1

Chapter 2 Developing a Strategy So it Trades Like it Back-Tests 7

Chapter 3 Find the Path of Least Resistance in the Market You Want to Trade 31

Chapter 4 Trading System Elements: Entries 45

Chapter 5 Trading System Elements: Exits 65

Chapter 6 Trading System Elements: Filters 89

Chapter 7 Why You Should Include Money Management Feedback in Your System Development 107

Chapter 8 Bar-Scoring: A New Trading Approach 119

Chapter 9 Avoid Being Swayed by the “Well-Chosen Example” 133

Chapter 10 Trading Lore 153

Chapter 11 Introduction to Money Management 175

Chapter 12 Traditional Money Management Techniques for Small Accounts: Commodities 191

Chapter 13 Traditional Money Management Techniques for Small Accounts: Stock Strategy 215

Chapter 14 Traditional Money Management Techniques for Large Accounts: Commodities 221

Chapter 15 Traditional Money Management Techniques for Large Accounts: Stocks 233

Chapter 16 Trading the Stock and Commodity Strategies Together 241

Appendix A Understanding the Formulas 245

Appendix B Understanding Futures 251

Appendix C Understanding Continuous Contracts 265

Appendix D More Curve-Fitting Examples 273

Index 277

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